You borrowed $35,000 to buy a new car from abank at an interest rate of 10.2% compounded monthly.This loan will be repaid in 96 equal monthly installments over eight years. Immediately after the 36thpayment, you desire to pay the remainder of the loanin a single payment. Compute this lump-sum amount

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A: Given: The interest rate is = 11% compounded quarterly The amount at 4th quarter is = $1,200 The…

Q: Andi loaned P200,000 from a local bank to be paid back uniformly in five years. How much will he pay…

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A: Given that,    Principal (P): $1000(let assumed) Total P+I (A): $2,000(let assumed) Time (t in…

Q: How much money will you at present time if you deposit P6,640 each for the next 8 years in a savings…

A: Given :Number of Periods/Years (n) = 8Nominal Rate of Interest (r(4)) =6%Regular Deposit(A) = $ 6640

Q: Determine the amount of installment if a man bought a machine costing P 25,000 payable in 10…

A: Installment cost can be calculated as follows: A=P1+rnnt25,000=P1+0.26210×225,000=P11.523P=2,169.57

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Q: One invested $10,000 five years ago. The first three years, the investment earned 12% compounded…

A: here we calculate the amount of money accumulated in five years as follow;

Q: How much interest is included in the accumulated value of $3200 paid at the end of every six months…

A: P = $3200t = 4 year(Semi annually)r = 6.5% Here, P = Principalt = Timer = Rate of interest

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Q: What will be the required monthly payment torepay a loan of $72,000 in eight years if the…

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Q: What equal monthly payments will repay an original loan of $1,000 in sex months at a nominal rate of…

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A: When an amount is compounded annually, interest keeps added on for the compounding year after year.

Q: Assuming an interest rate of 8% compounded annually, how much money will be required in four years…

A: A = P(1+r)n where P is principal amountr is interest rate n is time period

Q: years that is equivalent to a pa starting with $45,000 at the er year and decreasing by $5,00C 10…

A: *Answer:

Q: Jenny borrowed $25,000 from CITI bank at an interest rate of 12% compounded monthly. This loan will…

A: (Q)Jenny borrowed $25,000 from CITI bank at an interest rate of 12% compounded monthly. This loan…

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Q: If you borrowed $32,000 for 72 months at 16.5% with an add-on loan, what would be your monthly…

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A: The annual withdrawal in the post-retirement period is $100,000. This continues for 20 years and…

Q: ind the equivalent effective interest rate of 6.05% when compounded continuously.   Write your…

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Q: Find the effective interest rate per payment period for an interest rate of 8%compounded monthly for…

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Q: q4= your company borrowed sr 540,000, agreed to pay in eighteen equal monthly installments at 8%…

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Q: What is the accumulated amount of a 10-year annuity paying ₱ 1,744 at the end of each year, with…

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Q: just inherited $250,000 from my uncle’s estate. I would like to place that amount in the bank and…

A: Given the information: Inherited amount = $250000 Time = 15 years Interest rate = 12%

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Q: Find the present value of a $50,000 annuity payable each three months for ten  years but deferred…

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Q: 5. Find the equivalent present worth of a series of annual payments if the first payment equals $500…

A: This is an example of uniform gradient series cash flow. The uniform gradient series starts from 4th…

Q: A person needs $19,000 immediately as a down payment on a new home. Suppose that she can borrow this…

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